Annual Shanghai Business, Economics and
Finance Conference
PROGRAM
3 – 4 November 2014
Theme: “Research for Advancement”
Venue: Grand Mercure Hotel Hongqiao
上海虹橋美爵大酒店
369 Xian Xia Road
200336 SHANGHAI – CHINA
上海市長寧區仙霞路369號
Prof. Xuehui He
SUIBE, China
Conference Chair
Prof. George Ye
Saint Mary's Uni, Canada
Conference Chair
Prof. Dr. Mohammad Hoque
WBI, Australia
Conference Coordinator
Proudly sponsored by
World Business Institute, Australia
School of Finance, Shanghai University of International Business and
Economics (SUIBE)
Journal of Business and Policy Research | World Journal of Social Science
International Review of Business Research Papers | World Journal of Management
Global Economy and Finance Journal | World Review of Business Research
Global Review of Accounting and Finance | Journal of Accounting Finance and Econ
Journal of Islamic Finance and Business Research
Please Carefully Read all Instructions Below

Conference Venue
Due to unavoidable technical difficulties with the computers at the university, we have had
to change the conference venue at the last minute. We apologise for any inconvenience.
However the new venue is only 5 minutes away from the original venue and is located on a
parallel road to the university. The new venue is where the lunch was going to take placeHotel Grand Mercure Hongqiao.
Please note there are several Grand Mercure hotels in Shanghai. We will be situated in
Hongqiao.
Name of Hotel in Chinese: 上海虹橋美爵大酒店
Address of Hotel in Chinese: 上海市長寧區仙霞路369號
Ph: +86 400 818-2688

How to Reach the Conference Venue
The following information was provided on the hotel’s website about how to reach the hotel.
By car (taxi)
From Pudong International Airport (PVG.) to the hotel
The distance: 60 km (transport time by car: 90 minutes)
Approximate taxi fare (one way): RMB 200
From Hong Qiao International Airport (SHA) to the hotel
The distance: 5 km (transport time by car: 25 minutes)
Approximate taxi fare (one way): RMB 60-70
By metro
Take Shanghai Maglev at PVG- transfer Shanghai Rail Transit Line 2 at Longyang Road
Station- Loushanguan Road Station
Then take taxi to the hotel (Approximate taxi fare: RMB 11)
By Airport Express
Airport Express is available at Pudong International Airport (PVG.).
Hotel Pickup Service
Shuttle pickup is available only on particular request with additional fee. (Please contact the
hotel for this service)
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
How to Find us and Complete Registration?
Registration starts from 8.15 AM and continues until 4.30 PM on Monday 3 November,
2014 and 8.45 AM – 3.00 PM on Tuesday 4 November, 2014.
As soon as you reach the hotel, please go to Level 2. The registration desk will be located
outside room Phoenix and Dragon.
Please report either to Mrs. Khaleda Akhter or Dr. Mohammad Hoque for your registration. If
you have already fully paid for the registration, you will receive a yellow envelope which will
contain the following items:
- Your Name Tag
- Payment Receipt
- Participant Certificate (please note that only attending authors will receive a
participant certificate for ethical reasons, Co-authors will not receive this certificate
unless they pay for registration and attend the conference. Please also note that the
Participant certificate does not include the paper title or the authors of the paper. It is
just a certificate to prove that you did attend and participate in the conference)
- Conference Program
- Lunch Coupon
On Arrival Registration Payment
If you have not yet paid your registration fees, please complete your cash payment (we
accept US Dollars ONLY) on arrival. We do not accept any other currency or other
mode of payment except cash and please bring exact money as no change will be
given there and hope you will not negotiate with us for other mode of payment such
as bank cheque or cards. Please note that no negotiation on the amount to be paid will be
entertained at the registration desk. Please collect your white envelope which will contain all
of the abovementioned materials.
Name Badge:
The name badge is required for all participants/spouse/guests to participate in all
sessions/events, refreshments, buffet lunch, receptions, tea/coffee breaks. Please bring
lunch and dinner coupons for collection by our team members before you take lunch. If you
lose them, see Mrs. Khaleda Akhter at the registration desk.
 Conference Proceedings
As informed previously, conference proceedings with ISBN 978-1-922069-63-4 will be
provided electronically. Please visit www.wbiworldconpro.com to view your paper after 1
November 2014. Please read the instructions there and then view or download your and/or
other authors’ papers. The proceedings will be there for a number of years which is visited
by the readers from the globe. We remind the authors that we will upload the paper or
abstract as per the option you have indicated in the registration form. Once your paper or
abstract is uploaded, you cannot change it again in any form unless you pay US$100 for
any change.
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 Presentation Rooms and Conference Secretariat
We will use presentation room Dragon and Phoenix. The conference secretariat will be
located outside this room for any assistance you may require throughout the conference.
 What You Should Bring Along For Your Presentation
OPTIONAL:
Please bring in 15-20 copies of your (printed) paper (powerpoint slides or full paper) for
distribution at your session to other participants (this is optional).
MANDATORY:
Please print out at least 1 copy of your full paper and hand it to the chair of the
session at the beginning of your presentation.
If you do not provide a copy of the full paper to the session chair or the conference
organisers, we will be unable to email you an evaluation report for your paper.
Each author will have about 15 minutes for presentation and 5 minutes for questions and
discussion. We suggest you to spend less time (not more than 5 minutes) on
introduction and literature review sections of your paper. Please focus and spend
more time (the remaining 10 minutes) on your model, data, result analysis/findings
and significance or implication of your research.
The room will have LCD and laptop computer and please bring your pen-drive or USB
stick for power-point presentation. However, we do not guarantee that they will work
without any failure. Please do not embarrass us by asking for pen-drive as we do not
prove this.
In the past, we have faced issues where authors have put their USB in their unaccompanied
luggage which did not arrive with them or they have emailed the presentation to themselves.
We highly recommend that you carry your USB with you at all times and not put it with
your unaccompanied luggage and that you also do not just email the presentation to
yourself. You should save your presentation on a USB stick as well.
***Please ensure that you save your presentation file both in 2003 and 2007/2010
versions incase the computers do not support the latest version. If you have only a
2007 version and the hotel provides only 2003 office software, we will not take any
responsibility for converting your presentation from 2007 to 2003.
***Please note that we do not offer any internet access in the presentation rooms.
However, wifi maybe available at the hotel but there is no guarantee and there may be a
cost involved, which is payable by you if you choose to use this service. The hotel may have
a business centre that you may be able to use at your own expense.
 What About Tea/Coffee Break and Lunch?
Break-foods and Tea/coffee during all breaks will be served inside the presentation room
Dragon and Phoenix. Lunch will be held at the L’ATRIUM restaurant located on 2nd
Floor of the Grand Mercure Hotel Hongqiao.
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Please bring your lunch coupon (provided in your envelope) for collection before you take
lunch and if you lose them, please report to the registration desk.
***PLEASE NOTE: If you do not attend lunch on either day 1 or day 2, you cannot use the
other coupon to feed your family members or friends as we have a set number of people we
have ordered the lunch for on the 2 separate days.
 Best Paper Award
Best paper is selected on the basis of 1. Originality 2. Research Rigor 3. Contribution to the
body of knowledge and 4. Relevance to current and emerging issues. The papers are
considered on the basis of the evaluation by the reviewers and the assessment made by the
members of the panel. Panel members will observe and assess the presentation of the
short-listed authors and then report to conference team. The name of the winners will be
announced via email 2 – 3 weeks after the conference. Papers selected as “Best Papers”
will be published in the Journal of Business and Policy Research. The winners will receive
an award certificate.
 Paper Evaluation Report (PER) and Editorial Review Report (ERR)
Unlike other conferences in the world, we provide written feedback on your paper in the
form of Paper Evaluation Report (PER). This report will be sent to the authors via email
within 2-3 months after the conference. Please do not contact us in between this time
regarding these reports. However, if you do not receive them by this deadline, then contact
us via email: [email protected]
Please note that even if you have paid to attend the conference but you do not present the
paper at the conference, then you will not receive a PER for your paper. Similarly, if you
collect your registration envelope pack but do not present your paper, the
department in your university will be notified.
For those of who have paid for publication of their papers in our journals, you will receive
Editorial Review Report (ERR) within 5-6 months months after the conference, in addition to
the PER.
 Publication of Your Paper ( Please read carefully)
All accepted papers recommended by the reviewer (see your acceptance letter point
number 2 to know the name of the journal) for a particular journal will be published provided
that you have paid submission fee and complied to the review report, editorial comments,
feedback at the conference and journal’s guidelines. You are required to send us your
revised full paper (after compliance to the PER and ERR and editorial observations,
comments, if any, you received at the conference) within 2 months after we send you the
ERR.
If your invitation and acceptance letter does not mention any journal name, it means that
your paper was not accepted for any of our journals, However, if you improve your paper
according to the feedback you receive at the conference and/or via review report, we can
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reconsider the paper for journal publication at that stage. Please note that it is not
guaranteed that your paper will be selected for a journal even after the revisions.
If you have already paid publication fee, you must indicate in red ink the new or additional
materials you have added or inserted in compliance to written feedback and/or comments at
the time of revision. We will endeavour, though not guaranteed, to publish your paper
within six-nine months after the conference if you comply fully to all requirements and
requests. No reminder notice will be sent. If you do not send your revised paper by the
deadline or if you failed to comply in full to the review reports within the due time set by
us and do not comply to our any request for reorganising the paper as per journals’
guidelines or fail to make the paper camera-ready or do not respond to our emails within 6
months after the conference, your paper will not be published and no money or fee will
be refunded.
If your paper has already been accepted for our journal and you have not paid any
publication fees but are interested to publish can make cash payment at the registration
desk. The cost of Print and online publication is USD $300 or for online publication only is
USD $200. If you would like to pay at a later time, then please contact Nuha Jahan via
[email protected] to arrange this.

Who to Contact
For any issues relating to conference matters please contact Prof. Hoque on +614 11 496
791 (Australian mobile number)

Correspondence After Conference
If you have any concerns or questions after the conference, please contact us via our email
address [email protected]. Please do not send any email to [email protected] as
this email address will be unmonitored after 4 Nov 2014.

Future Conferences
If you would like to join our future conferences, please continuously visit our website
www.wbiworld.org to find out more information. You can also follow us on facebook by liking
our page “World Business Institute” or follow Nuha Jahan on Linked in by sending her a
request.

Conference Team
Coordinator, Dr. Mohammad Hoque, WBI, Australia & ARPI, USA
Events/ Publication Director, Ms. Nuha Jahan, WBI, Australia & ARPI, USA
Marketing Director, Mr. Tanzil Hoque, WBI, Australia & ARPI, USA
Managing & Finance Director, Mrs. Khaleda Akhter, WBI, Australia & ARPI, USA
Technical Manager, Mr. Md. Salman Hoque, WBI, Australia
Proceedings Editor, Mr. Md. Mahbubul Hoque, RAPI, Bangladesh
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
List of Participating Countries
The Annual Shanghai Business, Economics and Finance Conference is proud to welcome
delegates from 21 countries of the world.
Australia, Bangladesh, Bhutan, Canada, China, Germany, Indonesia, Iran, Jamaica, Korea,
Kuwait, Lithuania, New Zealand, Nigeria, Taiwan, Thailand, Turkey, UAE, UK, USA,
Vietnam.
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Conference Program Outline
Presentation Room: Dragon and Phoenix, Level 2, Grand Mercure Hongqiao
Conference Secretariat: Outside Presentation Room Dragon and Phoenix
Monday 3 November, 2014
8.15 AM - 4.30 PM
Conference Registration
Outside Dragon and Phoenix Room, 2nd Level
9.00 AM - 10.45 AM
Paper Presentations:
Plenary Session: Room Dragon and Phoenix
10.45 AM – 11.15 AM
Morning Tea Break
Inside Presentation Room
11.15 AM – 1.00 PM
Paper Presentations:
Finance Track: Room Dragon and Phoenix
1.00 PM - 2.30 PM
Lunch
L’ATRIUM Restaurant, 2nd Floor
2.30 PM - 4.30 PM
Paper Presentations:
Multidisciplinary Track: Room Dragon and Phoenix
4.30 PM - 4.45 PM
Afternoon Tea Break
Inside Presentation Room
4.45 PM - 6.30 PM
Paper Presentations:
Economics Track: Room Dragon and Phoenix
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Conference Program Outline (cont...)
Presentation Room: Dragon and Phoenix, Level 2, Grand Mercure Hongqiao
Conference Secretariat: Outside Presentation Room Dragon and Phoenix
Tuesday 4 November, 2014
8.30 AM - 3.00 PM
Conference Registration
Outside Dragon and Phoenix Room, 2nd Level
8.45 AM - 10.30 AM
Paper Presentations:
Banking, Economics and Finance:
Room Dragon and Phoenix
10.30 AM – 11.00 AM
Morning Tea Break
Inside Presentation Room
11.00 AM – 1.00 PM
Paper Presentations:
Management Track: Room Dragon and Phoenix
1.00 PM - 2.30 PM
Lunch
L’ATRIUM Restaurant, 2nd Floor
2.30 PM - 4.15 PM
Paper Presentations:
Economics and Finance Track: Room Dragon and Phoenix
4.15 PM - 4.30 PM
Afternoon Tea Break
Inside Presentation Room
~~~ End of Conference ~~~
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Monday 3 Nov 2014
9.00 AM – 10.45 AM
Room Dragon & Phoenix
Session: Plenary
Session Chair: Prof. George Ye, Saint Mary's University, Canada
Inaugural Speech by Program Chairs



Professor Xuehui He, Shanghai University of International Business and
Economics, China
Professor George Ye, Saint Mary's University, Canada
Professor Mohammad Hoque, World Business University, Australia
315: Bank Stock Performance and Bank Regulation Around The Globe: Matthias
Pelster, Felix Irresberger and Gregor N.F. Wei, Technische Universität Dortmund, Germany.
214: Brazilian MNEs in Africa: Do They Have Competitive Advantages?: Kinfu Adisu,
Fort Hays State University, United States and Laudo M. Ogura, Grand Valley State
University, United States.
421: Integrating the EFQM Excellence Model with the <IR> Intellectual Capital: A
Qualitative Analysis with a Methodological Perspective: Stéphane Trébucq, University
of Bordeaux, University of Bordeaux, France and Elisabetta Magnaghi, Renmin University of
China, China.
328: Efficiency of The Indonesian Stock Market on Sectoral Basis: Is There Growing
Weak-Form Market Efficiency: Ragnar Benediktsson, Peking University, China and Erik
Benrud, Drexel University, United States.
Monday 3 Nov 2014
10.45 AM – 11.15 AM
Inside Room
“Morning Tea Break”
Monday 3 Nov 2014
11.15 AM – 1.00 PM
Room Dragon & Phoenix
Session: Finance
Session Chair: Prof. Nejat Erk, Cukurova University, Turkey
302: The Effect of Perky Strategies of Working Capital on Companies’ Liquidity
Position: Hossein Shafiei, Ali-Akbar Darvishi, Islamic Azad University, Sirjan Branch, Iran
and Vahid Haji-Alizadeh, SKED Co., Iran.
312: The Impact of Institutional Traders on Stock Option Pinning: Francis Cai and Lian
Zan Xu, William Paterson University, United States.
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325: The Determinants of The Correlation Between Stock and FX Markets: Evidences
From China, Japan And Korea: Young K. Park , Sungkyunkwan University, South Korea,
Suk-Joong Kim, University of Sydney, Australia and Ki Beom Binh, Myongji University,
South Korea.
327: Idiosyncratic Volatility and Default Risk: Evidence from Taiwan Market: Lu, ChiaWu, National Taipei University, Taiwan.
329: The co-movement of stock return and economic growth: Evidence from US and
China: Jia Shi and Yu Jiang, Nanjing University, China.
1.00 PM – 2.30 PM
L’ATRIUM Restaurant, 2nd Floor
Monday 3 Nov 2014
“Lunch Break”
2.30 PM – 4.30 PM
Monday 3 Nov 2014
Room Dragon & Phoenix
Session: Multidisciplinary
Session Chair: Dr. Tim Lockyer, University of Waikato , New Zealand
103: Integrated Reporting: A First Analysis of The Current Situation of Its Framework
in The Light of The Comment Letters Received: David Alexander, Roberto Aprile,
University of Birmingham, United Kingdom and Elisabetta Magnaghi, Renmin University of
China, China.
608: Adopting Green: From the Perspective of Private Commercial Banks in
Bangladesh: Tamanna Islam, Kashfia Sharmeen and Sadia Rahman, American
International University - Bangladesh (AIUB), Bangladesh.
206: From Motor Biking To Public Transportation, What Matters In Hanoi?: Poh Yen
Ng and Phung Phuong, RMIT University, Vietnam.
418: Analysis of Success and Failure for Non-Chinese Companies Building Brand
Value in China: R.K. Marjerison, Royal University of Bhutan, Bhutan.
401: Developing Dynamic Capabilities for Bank Turnaround: William W. Lawrence, the
University of the West Indies, Jamaica.
410: Hotel Revenue Management – Yield Management its Applicability: Tim Lockyer,
University of Waikato, New Zealand.
Monday 3 Nov 2014
4.30 PM – 4.45 PM
Inside Room
“Afternoon Tea Break”
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Monday 3 Nov 2014
4.45 PM – 6.30 PM
Room Dragon & Phoenix
Session: Economics
Session Chair: Prof. Kinfu Adisu, Fort Hays State University, USA
223: The Study on the Case of Open Innovation in the Warring States Period of China:
Jeong-Hwan Jeon, Jin-Hwan Koh and Sung-Kyu Kim, Gyeongsang National University,
Korea.
228: FDI and Export Performance; Could They Be Rivals?: Nejat Erk, Cukurova
University, Turkey.
232: ICT Effects on Companies Performance: Economical Aspects: Rimantas Gatautis,
Audrone Medziausiene and Asta Tarute, Kaunas University of technology, Lithuania.
234: RMB Exchange Rate Controversy – Interests and Implications: R.K. Marjerison,
Royal University of Bhutan, Bhutan.
207: Soft Information and Local Independent Directors: Shangzhou ji, Shanghai
University of International Business and Economics, China.
Tuesday 4 Nov 2014
8.45 AM – 10.30 AM
Room Dragon & Phoenix
Session: Banking, Economics and Finance
Session Chair: Dr. Rimantas Gatautis, Kaunas University of Technology,
Lithuania
602: Influence of Efficiency and Capital Adequacy on Financial Performance’s
Regional Development Banks (BPD) in Indonesia: Sparta, STIE-Indonesia banking
School, Indonesia.
304: Earnings Management by Top Chinese Listed Firms in Response to the Global
Financial Crisis: Guanglu Xu and Xu-Dong Ji, La Trobe University, Australia.
204: Utility from Bequeathing Savings or Utility from Accumulating in the Ramsey
Growth Model: Atef Khelifi, Concordia University, Canada.
219: The Fiscal Theory of the Price Level: Identification and Testing for the UK in the
1970s: Jingwen Fan, Jinan University, China, Patrick Minford and Zhirong Ou, Cardiff
University, United Kingdom.
233: Are Incomes Per Capita Stochastically Converging Between Indian States? Time
Series Evidence with Two Structural Breaks: Homagni Choudhury and Michael Hawes,
Aberystwyth University, United Kingdom.
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Tuesday 4 Nov 2014
10.30 AM – 11.00 AM
Inside Room
“Morning Tea Break”
Tuesday 4 Nov 2014
11.00 AM – 1.00 PM
Room Dragon & Phoenix
Session: Management
Session Chair: Prof. Ahmed Ahmed, Kuwait University, Kuwait
402: Kuwait SMEs: Size, Obstacles and Suggested Remedies: Ahmed Abdel Rahman
Ahmed and Abdullah Al-Owaihan, Kuwait University, Kuwait.
405: How Do Research-Based Start-Ups Overcome The Valley Of Death?: Véronique
Bessiere, Marie Gomez-Breysse, Karim Messeghem, Arnaud Milet and Sylvie Sammut,
University of Montpellier, France.
415: Obstacles Facing Small and Medium Businesses in the Developing Countries
and the Solutions: Asad Khalil and Wen Rong, Sichuan International Studies University,
China.
412: Fall of Traditional Public Relations and Rise of Public Relations Technology in
Nigeria: Eze Charles Chukwudi, University of Nigeria, Nigeria.
416: Deconstructing the Quality- Involvement Model in Indian Organizations: An SEM
Approach: Ritu Sehgal, University of Wollongong, Dubai.
413: Academic Entrepreneurs: Cognitive Factors Driving Researchers To Start Their
Own Venture: Maria Claudia Angel Ferrero and Véronique Bessière, University of
Montpellier, France.
Tuesday 4 Nov 2014
1.00 PM – 2.30 PM
L’ATRIUM Restaurant, 2nd Floor
“Lunch Break”
Tuesday 4 Nov 2014
2.30 PM – 4.15 PM
Room Dragon & Phoenix
Session: Economics and Finance
Session Chair: Dr. Xu-dong Ji, La Trobe University, Australia
225: Strategic Motives, Institutional Environments and Firm’s FDI Ownership: Yigang
Pan, York University, Canada.
205: Labour Casualization and Trade Unionism in Nigeria: Solaja Mayowa Oludele,
University of Ibadan, Nigeria and Elijah Olusegun Akinola, Olabisi Onabanjo University,
Nigeria.
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210: The Effects of Foreign Direct Investment Regimes on Chinese Outbound Direct
Investment in Africa: Mukete Beyongo, Australian National University, Australia.
212: China’s Impact on Poverty in the Mekong Sub Region: H. Jalilian, University of
Bradford, United Kingdom.
323: Do Newly Public Technology INVs Benefit from Their Pre-IPO
Internationalization?: Xiaoying Ji, Ohio University, USA, Qian Wang, Kean University,
USA and Lin Zou, Texas Woman's University, USA.
4.15 PM – 4.30 PM
Tuesday 4 Nov 2014
Inside Room
“Afternoon Tea Break”
~~~ End of Conference ~~~
List of Participants
Paper No.
210
304
Author Name
Mr. Mukete Beyongo
Dr. Xu-dong Ji
Country
Australia
Australia
Ms. Sadia Rahman
University
The Australian National University
La Trobe University
American International University Bangladesh (AIUB)
608
418 and 234
225
204
Prof. Rob Marjerison
Prof. Yigang Pan
Dr. Atef Khelifi
Royal University of Bhutan
York University
Concordia University
Bhutan
Canada
Canada
chair of
conference
329
Prof. George Ye
Miss. Jia Shi
Canada
China
415
Dr. Asad Khalil
Saint Mary's University
Nanjing University
Sichuan International Studies
University
421 and 103
Dr. Elisabetta Magnaghi
Renmin University
China
Prof. Xuehui He
Shanghai University of
International Business and
Economics
China
207
Mr. Shangzhou Ji
Shanghai University of
International Business and
Economics
China
405 and 413
315
Prof. Veronique Bessiere
Dr. Matthias Pelster
University of Montpellier 2
TU Dortmund University
France
Germany
chair of
conference
Bangladesh
China
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602
Dr. (Cand). Sparta
STIE- Indonesia Banking School
Islamic Azad University, Sirjan
Branch
The University of the West Indies
Gyeongsang National University
Sungkyunkwan University
Kuwait University
Kaunas University of Technology
University of Waikato
Indonesia
302
401
223
325
402
232
410
412
205
327
Mr. Hossein Shafiei
Dr. William Lawrence
Mr. Sung Kyu Kim
Prof. Young-Kyu Park
Prof. Ahmed Ahmed
Dr. Rimantas Gatautis
Dr. Tim Lockyer
Mr. Eze Charles
Chukwudi
Mr. Oludele Solaja
Dr. Chia-Wu Lu
University of Nigeria
University of Ibadan
National Taipei University
Nigeria
Nigeria
Taiwan
observer
228
416
219
Mrs. Tabthip Kraipornsak
Prof. Nejat Erk
Dr. Ritu Sehgal
Dr. Zhirong Ou
Kasetsart University
Cukurova University
UOWD
Cardiff University
Thailand
Turkey
UAE
UK
233
233
212
214
312
328
323
Dr. Homagni Choudhury
Mr. Michael Hawes
Dr. Hossein Jalilian
Prof. Kinfu Adisu
Dr. Francis Cai
Dr. Erik Benrud
Dr. Lin Zou
UK
UK
UK
USA
USA
USA
USA
observer
206
Mr. Alexander Hammer
Dr. Poh Yen Ng
Aberystwyth University
Aberystwyth University
University of Bradford
Fort Hays State University
William Paterson University
Drexel University
Texas Woman’s University
U.S International Trade
Commission
RMIT University Vietnam
Iran
Jamaica
Korea
Korea
Kuwait
Lithuania
New Zealand
USA
Vietnam
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